Electrolux divests Schrock Cabinet Company

Electrolux divests Schrock Cabinet Company Electrolux has reached an agreement regarding divestment of its operation in kitchen and bathroom cabinets in the US to the American consumer products company Fortune Brands Inc. Schrock is one of the leading producers of cabinets in the US under the brand names Schrock, Kemper and Diamond. Sales in 1997 amounted to approximately SEK 1,400m and the number of employees is approximately 1,525. The divestment, which is subject to a number of customary closing conditions, is intended to close as of June12, 1998. The divestment is in line with the Group´s efforts to focus its activities on core areas, and is expected to generate a capital gain of approximately SEK 450m. For further information please contact Hans G. Bäckman, Executive Vice President, AB Electrolux, +46 70 652 34 80.

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Electrolux shapes living for the better by reinventing taste, care and wellbeing experiences, making life more enjoyable and sustainable for millions of people. As a leading global appliance company, we place the consumer at the heart of everything we do. Through our brands, including Electrolux, AEG, Anova, Frigidaire, Westinghouse and Zanussi, we sell more than 60 million household and professional products in more than 150 markets every year. For more information go to www.electroluxgroup.com.